Commentary

I5.528 Effect of administrative powers on A&M trusts

IHT, trusts and estates

I5.528 Effect of administrative powers on A&M trusts

I5.528 Effect of administrative powers on A&M trusts

The possible effect of administrative powers on the existence or otherwise of an interest in possession is considered in I5.143. Similar considerations apply to accumulation and maintenance (A&M) trusts in the sense that the references to settled property in IHTA 1984, s 71 must refer to the settled property net of administrative expenses properly attributable to it, and the references to the income of settled property must refer to the income of the property net of expenses properly attributable to it. Again it is suggested that what has to be considered is

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial